Master the IBWT pattern

Want

Get it now (risk-free)

8 patterns that make up 98% of my PA income

Get it now (risk-free)

Learn the Scalping Secrets

Get it now (risk-free)

Read on Mobile Enter Reading Mode

Buy EUR/USD and Sell DAX

Posted on Jan 13th, 2016

by colibritrader

Buy EUR/USD and Sell DAX

We have been through a very volatile trading day! There were quite a few opportunities for intraday trading. But since I am giving mostly Daily signals (which in most cases are the best), I will stick to my favourite trading style! The trade from last time- Short DAX did materialise, but if you have strictly followed my trading idea from last time, you have probably been stopped out. The price did retrace 30-40 points more than what I have anticipated and then retraced all the way down, breaking the 9800 barrier. The day has closed with a bearish engulfing pattern, which is giving me another sell indication. I will be looking to enter into a short trade tomorrow at around 9750. My stop-loss would be placed just above 9970. The primary target is the level of 9450. Then, depending on how price behaves, we can target a second price target at around 9000.

EUR/USD– so what is happening with the major of all majors– after a prolonged consolidation period, we are entering into a mode in which traders are getting more nervous and starting to show more and more bullish signals. The 1.0750 support level has been a great belt and today there is a bullish pin bar, which is just confirming the positive momentum. If you are about to trade EUR/USD, my trading idea is to go long at 1.0875 and put a stop-loss at 1.0800. The primary price target is 1.0940. The secondary one is 1.1125.

Conclusion: Buy EUR/USD and Sell DAX

HAPPY TRADING,

COLIBRI TRADER

Leave a Reply Cancel reply

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Colibri Trader Ltd, its employees, directors or fellow members. Futures, FOREX, CFDs, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures, FOREX and CFDs markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd's, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.